Toronto Hydro Corporation

Toronto Hydro Corporation

February 06, 2006 17:50 ET

Repayment Schedule for Toronto Hydro Promissory Note

TORONTO, ONTARIO—-(CCNMatthews - Feb. 6, 2006) - Toronto Hydro Corporation
announced today that it has received a repayment schedule from the City of
Toronto ("City") for the $980,230,955 debt held in the form of a Promissory
Note ("Note"), pursuant to the terms and conditions of the Note held by the

The City has notified Toronto Hydro Corporation that it is exercising its
right to extend the current 2008 expiry date of the Note for an additional
five-year term, setting a new expiry date of May 6, 2013. Concurrently, the
City has submitted a monetization schedule that calls for entire repayment of
the Note on May 6, 2013.

About Toronto Hydro

The Corporation is a holding company which through its wholly-owned

- Toronto Hydro-Electric System Limited - distributes electricity;

- Toronto Hydro Energy Services Inc. - manages an existing portfolio of
electricity contracts and is engaged in the development and sale of
energy efficient products and services;

- Toronto Hydro Telecom Inc. - leases fibre optic cable capacity and
provides managed data services; and

- Toronto Hydro Streetlighting Inc. - which provides streetlighting and
maintenance services for the City of Toronto.

The principal business of the Corporation is the distribution of
electricity by LDC. LDC owns and operates an electricity distribution system
that delivers electricity to approximately 677,000 customers located in the
City of Toronto.

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